Mhada sets lottery date for 800 houses in August

There's good news in store for Mumbai's home buyers. Milind Mhaiskar, the newly-appointed Mhada CEO and VP, has confirmed that there will be a lottery for 800 houses in August. The advertisements for the same are expected to be out by the first half of July.

Mhada has been coming out with an annual lottery for Mumbai on May 31 every year but failed to do so this time. This lead to speculations that there might not be a lottery this year at all. However, Mhada has finally closed in on the details and will be making the list public soon.

The houses will be located in Tunga-Powai, Charkop, Vikhroli, Kandivli, Goregaon, and Mulund. "We are working on it in detail. We are about to complete the formalities and will announce the lottery soon," said Subhash Lakhe, Chief Officer, Mumbai board.

Until recently, the Mhada wasn't very sure about whether they will be able to carry out the lottery due to a scarcity of houses. However, they managed to get nearly 500 houses for the same. "We looked at other projects and somehow managed to get all those houses that are still under construction. We even got them registered with MahaRERA to meet all the criteria before commencing the lottery," said a senior official.

Meanwhile, Mhada is planning to reserve most of these 800 houses for the economically weaker sections, that is, people who earn below Rs 25,000 per month. When asked, Mhaiksar confirmed the development. According to sources, the prices of the houses are being finalised, after which they will start advertising them for people to apply for these.

...& ANALYSIS

Affordable homes are a scarcity in the city and most Mumbaikars depend on Mhada lotteries to avail them. After this year’s delay, the Mhada managed to finally arrange for the lottery where 800 houses will be up for sale. However, it still lags far behind in meeting the rising demand for affordable housing in the city due to the perpetual urban sprawling and increased purchasing power.